Debt-ravaged Petra Diamonds puts itself up for sale
The SA-focused diamond miner has a $650m debt repayment in two years as Covid-19 dries up jewellery demand
26 June 2020 - 18:28
SA-focused Petra Diamonds has put its entire business or parts of its assets up for sale as a $650m (R11.25bn) debt repayment looms in May 2022.
The global diamond industry has been hit hard by the coronavirus pandemic, which has dried up buying of jewellery, leading to low demand for rough diamonds and shrinking mining companies’ revenue streams...
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